This situation can be a bit of a hornet’s nest depending on your sponsor. Visa transfers if agreed between companies usually require you to exit and come back (but exit to anywhere, not just the Philippines. Dubai for example.)
Where problems can occur is when you are leaving the company and they don’t want you to go. Then they can start running interference and manufacturing delays etc and insisting to only book you a flight home to Manila. Anything to make it difficult for you.
Some can sadly even go so far as to open a case against you for something even after your visa is cancelled and then you’re into weeks of bother when you return as you’re going straight to a holding cell until your lawyer works it out.
It’s the lowest of the low. A highly vindictive move that most wouldn’t believe would happen, but I’ve seen it twice.